I’m in a business that deals with customers from around the world: Marina operations and management. Boaters from everywhere travel from one coastal marina to another. I’m planning on offering a small discount to boaters who pay for their slip rent or fuel with silver or gold – the only true international ‘currency’.
One challenge will be how to verify the purity and amount of metal offered as payment. I think at this time, recognized major mint rounds, such as silver and gold Eagles, and silver and gold Maples, will make it much easier and safer to accept as payment.
Please correct me if you see anything wrong with this logic.
I am on the same page as Silver Dollar, because when it comes time to sell your stack, the buyer will need to feel certain that what he is buying is genuine. And in a SHTF situation, if you were selling some of your own goods (or skills) for silver, would you have more faith in two circulated Franklin Halves or a 1-oz silver round with a pot leaf on it?
@mammoth exactly, that is why I would always recommend Roosy dimes or Wash quarters vs Merc’s or Standing Lib’s…one they are a little cheaper and two they are recognizable to most of the idiots in the world now days…they have seen Roosy’s and Wash’s but most have never seen a Merc or Standing Lib so which do YOU think they will take?
Same with Franklin’s and Kennedy’s…they are still somewhat recognizable to the masses
Mercury dimes and Franklin halves make up about half of my junk stack. I also visit these traveling coin buyers when they appear in my area. They look for weight, and weight alone. I will trade my slicks (nearly unreadable junk coins) and trade them at a rate of 5 slicks for 4 good readable ones. I may be getting clipped slightly on the weight, but slicks are hard to pass, and may be close to worthless soon. These traveling buyers will sopp them up with a biscket, everytime.
Well, after this thread, looking at my meager stash and doing some other research I think I’m going to do this:
Take my generic 1 oz bars and rounds and cash them in.
Take my ‘earnings’ (not really) and purchase SAE’s, 1/10 GAE’s and more 90%.
From here on out my purchases will only be SAE’s, 90% and 1/10 GAE’s.
This makes all of it very recognizable, portable and quickly exchanged for whatever I may need.
Because I have a love of them, I will not be dumping my 5 oz bars – I just think they’re cool and I still want to have a little fun with this.
Don’t know if it’s right or wrong but as we, I feel, get closer to higher silver, no silver or the economy sputtering out I think having an SAE over a round that has ‘Happy Birthday’ on it will be a better hedge for holding PM’s.
Yeah, I’ll lose a little on prices right now but I won’t care as I know that the SAE is pretty well known everywhere at this point.
The only other oddball stuff we’ll have then is US Mint Silver sets. We have a few for fun and of course one each for the year’s our kids were born. Everything has its covers and paperwork so it’ll keep nice.
There is no problem with having a bit of a diversity in your stack, but ASE’s are easy to buy and very easy to sell. So that is something worth bearing in mind, as there’s no point in stacking stuff that you can’t offload easily enough when the time comes. To some, they are too common, but I see that as an advantage. People should buy what they like. Although I wouldn’t stack any one thing exclusively, but I don’t see anything wrong in having ASE’s as part of your core stack.
I think you’re right. Stick with the silver coins that are most recognizable by the most people. Our silver will be needed as real money one day soon, and better to have silver money that people are comfortable with and will gladly accept as payment. Don’t fall in love with any of it. You will need to let go of it one day in exchange for food, fuel, medicine, or whatever your needs for survival and profit at the time. Silver and gold are just money. Real money.
PoorMansGold, It sounds as though you are on the right track BUT you may want to reconsider selling your generic 1 oz bars & rounds for a loss. Unless you absolutely need to sell them and/or believe that The End is coming soon, it may be prudent to wait for the spot price to increase and then at least break even.
Just my own opinion; selling anything at a loss gives me indigestion.
BTW I recently picked up ten 1921 Morgans for $24/ea. and am picking up a mix of ten more Peace & Morgan dollars for $25/ea this afternoon. Can’t seem to find these beauties for anywhere near spot these days! You can’t go wrong with 90%.
Mammoth – thanks. Yeah, I considered that but the reality is that I don’t have that many generic’s to begin with. Most of my stash is SAE’s and 90% already.
Do I think the end is near? Probably not, but the sooner I have the SAE’s in hand the better I’ll feel. No rush but soon. We’ve got a little chunk of change coming soon so I’m going to hold off on selling until that $$$ is in and leverage the whole thing for more of a discount.
I’m also watching Ag slowly tick up here. But that works against me too as it raises the SAE prices too. We’ll see.
Interesting on the Morgan’s. I have a few and never really gave them much thought. Mine are from the 1880′s all the way to 1922/23 I think. Maybe a dozen of them, maybe. Never knew if I should chase more or not because I don’t think J6P would know what one was/is.
Your on the right track pal. I trade 21 to 23 generics for 20 ASE`s, Pawn Shops go for this, as do private owners. Join the local coin club,, don`t reveal your true intentions, they sopp that stuff up too. The local coin store may want 25 generics for 20 ASE`s. I`m a buyer at the U.S. Mint, I bought 5 Gold baseball hall of fame 1 oz coins. They made far fewer uncirculated than they did proofs. My plan is to trade my 1 oz gold coin for 30 1/10 oz gold eagles. Mabey more. I will prey on the local coin club for this trade. mabey the LCS, we`ll see. I could get it shoved up my ass too, but I don`t think so.
Silver Dollar, you are thinking right with the baseball HOF unc’s but I am afraid you may have to wait quite a while…see the Jackie Robinson’s, same deal but it took nearly 5 years for them to REALY decouple. There is a reason the mint sells more proofs than unc’s, they are much more popular but collectors will get on the unc bandwagon at some point.
I am aware of this, BUT the Baseball Hall Of Fame coin is shaped diffrently, it`s actually a domed coin. Collectors are scrambeling to get these. I waited on line for 3 hours to get my order in. The huckster on Home Shopping network is getting a ton for the Silver ones. I think turnaround time will be no later than the 4th of July. Capsulated graded coins are great, but all the proper mint packaging is a big selling plus.
" Interesting video. Similar to the other one's I've watched over the last 3 years.
Looks like my idea of 90% and SAE's only is the way to go. It does have me thinking about some 10oz bars....wait, no.
And, this is all nice - but if the Ag market freaks out there's oth... "Reply To: Silver Shortage
" I dunno..... Look at ALL the sites selling the stuff and there's PLENTY to be had. Worrying about the doom of some article is silly. Get the stuff now, as you can, and just keep going.
IF things do go nuts I have a hunch it'll be so fast this time that it won't matter what order ... "Reply To: Silver Shortage
" The one CRITICAL thing is to make damned certain that the party you're shooting at is not your spouse, kid or anyone else who has a right to be there. That cleared in your brain, fire away! Have no mercy and take no prisoners. Prisoners will just sue you later. "Reply To: Finger off the trigger? Nonsense….
" Move away from the standard AR-15 ball rounds and move into soft point or ballistic tip and bump it to 60-70 grains. Penetration improves and tip makes expansion pretty drastic. Vmax rounds literally explode and the fragments will create a 5 inch diameter wound channel "Reply To: Real world firearms suggestions
" Muzzle flash will temporarily take your night vision, but, you have memorized your surroundings, and a good first shot may preclude the nesessity of a second. Should a second shot be nessessary, sound and memory will sufice. In your own home, you hold the high ground. Use our knowledge to your b... "Reply To: Finger off the trigger? Nonsense….
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